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Tesla’s biggest rival in China: an in-depth look at the $4,200 Wuling HongGuang Mini EV
Tesla’s biggest rival in China is the Wuling HongGuang Mini EV that starts at around $4,200. Information regarding this small but impressive electric car that is a part of an SAIC, General Motors, and Wuling joint venture is vague and usually hard to come by. However, a recent video revealed several new details about the one car that has managed to outsell Tesla for the past five months.
The HongGuang Mini EV: A Quick Introduction
First delivered in July 2020, the Wuling HongGuan Mini EV is manufactured in Lizhou, Guangxi, China, and is available in two variants: one equips a 9.2 kWh battery and the other a 13.8 kWh battery. Capable of a 62 MPH top speed and only around 75 and 110 miles of range per charge, the vehicle’s base model is available for a respectable $4,200. However, a top price of around $5,600 will give you a fully-loaded version of the car complete with air conditioning and power windows, two features that are available in most cars as a standard option. This car, however, is far from standard and is an economical EV made for short trips, tight finances, and efficiency. It’s no Tesla, but it did secure over 119,250 total sales in 2020 alone, making it the second best-selling EV in the Chinese market, trailing the Tesla Model 3.
2021 has proven to be a different story, at least so far. The HongGuang Mini EV has commanded the Chinese electric vehicle sector in 2021, selling just shy of 57,000 units through February and holding a commanding lead over the second-place Model 3, which has accumulated 27,531 total sales so far this year. The affordability of the HongGuang Mini EV is proving to be a disruptor. Although it doesn’t pack the punch or performance of the Model 3, people continue to purchase the car because of its impressive price tag.
Production of the HongGuang Mini EV
As previously mentioned, the Mini EV is produced in Lizhou, Guangxi, at a small but extremely efficient facility. A new car rolls off the line every minute, and the vehicle only takes 4 hours to produce from start to finish, according to YouTuber Gwelio 60, who recently toured the factory to have an inside look at the car.
An assembly line worker at the Wuling plant. He is putting the finishing touches on the HongGuang Mini EV here. (Credit: YouTube | Gweilo 60)
There are not many parts to the car, and it is a relatively simple machine. The battery and some other basic parts that make up a car are really the only things that go under the body and chassis itself. Anything that could be considered a “luxury” is not included in the vehicle’s most basic models. It is really a car to get from point A to point B with as few issues or bells and whistles as possible.
(Credit: YouTube | Gweilo 60)
The vehicle itself is an employee at the plant. In fact, several of them are. Wuling has several HongGuang Mini EVs that haul materials, parts, and other things across the campus of the production facility completely autonomously. The cars operate under their own guidance and can sense when to stop and when to accelerate back onto their path. Gweilo 60 showed an example of how safe they are in the video by crossing the street while a HongGuang Mini EV approached. The car successfully stopped, waited for Gweilo to cross the street, and began navigating once again.
The Interior: Simple, small, and smooth
The bells and whistles are not present in this vehicle. A small dash screen and a simple radio, along with HVAC ventilation, make up the entirety of the dashboard. It is comfortable, small, sleek, and smooth, and it is just enough to keep someone comfortable during their short drive. It isn’t much, but with the low range, it’s not like someone needs excessive entertainment or features. You get what you pay for.
(Credit: YouTube | Gweilo 60)
The ride is smooth, zippy, and comfortable, according to the short review from Gweilo. It won’t go over 62 MPH, but it’s another gas car off the road, something that is always a positive. It has good suspension, it handles well, and it is a comfortable ride for any occupants, he says.
The Bottom Line: Is the Wuling HongGuang Mini EV a real “threat” to Tesla?
No, it probably isn’t a threat to Tesla because Tesla’s cars and the Wuling HongGuang Mini EV simply are not in the same realm. Comparing the car to the Model 3 is like comparing the Model 3 to the Rivian R1T: prices, purpose, and functionality are all different, and they are two cars that shouldn’t be mentioned in the same sentence. Many Tesla enthusiasts have called the Mini EV a “golf cart” because of its size and price point, and really that isn’t far off. However, the Mini EV is undoubtedly a popular vehicle, and the sales figures show that. Is it a legitimate threat to Tesla? Probably not. At least, it doesn’t seem that way. They’re just not comparable.
Tesla to sell zero cars in China by 2030, Morgan Stanley’s Jonas says
That isn’t to say that what Wuling has accomplished with this small but mighty EV isn’t impressive. The sales figures alone are incredible, and it is certainly a great indication that China is ready to buy EVs. However, it would be interesting to see if the Wuling-GM-SAIC partnership would be willing or would plan for a more competitive, luxurious, and expensive EV that would drive competition to the max in the Chinese market. China is becoming a hotbed for EVs, and the Wuling HongGuang Mini EV is driving EV sales through the roof.
Watch Gweilo 60’s full video regarding the Wuling HongGuang Mini EV below.
Elon Musk
Elon Musk calls Earth’s data centers “peanuts” next to what SpaceX is planning in orbit
Elon Musk says SpaceX capex efficiency is underestimated as orbital data centers loom by 2028.
Elon Musk is pushing back on one of the biggest worries hanging over SpaceX stock. In a reply on X on Sunday, Musk said the company’s capital expenditure efficiency is severely underestimated. He was responding to a Milk Road Stocks post citing analyst Kyle Reidhead, who estimates SpaceX will need to spend roughly $470 billion over the next five quarters.
Reidhead built that figure around the target SpaceX set on its third quarter earnings call: 13 gigawatts or more of compute by the end of 2027. In his breakdown, Nvidia captures 83 to 89 percent of the spending. SpaceX ended the quarter with 1.7 GW of nameplate compute and guided to $35 billion to $40 billion in fourth quarter capex, as Teslarati reported.
Musk did not attach a number to his claim, but the earnings call shows the argument. CFO Bret Johnsen said new compute currently pays for itself in under a year at today’s pricing, and Musk said that window could shrink to six months next year. Using that pace, Reidhead argues about $230 billion of the $470 billion could come from operating cash flow and about $60 billion from SpaceX’s roughly $90 billion cash pile, leaving around $180 billion to borrow. Musk confirmed last week that SpaceX had already closed a new $40 billion debt raise to buy GPUs.
The ground buildout is not the end goal. It is what is meant to pay for the move to orbit. Replying on Friday to charts built from Sequoia partner Shaun Maguire’s SpaceX model, Musk wrote that “Terrestrial compute will be peanuts compared to orbital compute,” adding that orbital compute deployed per month “probably exceeds terrestrial around the end of 2028 and then far exceeds it in 2029.”
Maguire’s model shows how steep that path is. It has capex climbing from $88 billion this year to $290 billion in 2027 and $369 billion in 2028, with SpaceX burning $77.8 billion in cash this year and $122.6 billion next year before turning $114.9 billion cash positive in 2028. Musk’s response to the model was, “I think we can do better.”
The orbital half runs through Starmind. SpaceX plans to operate up to 1 million AI satellites flying in clusters of about 10, linked by roughly 10 terabits of bandwidth, with deployment of thousands of units starting as soon as late 2027 out of its Gigasat factory in Bastrop, Texas, according to SpaceX’s space safety page. Musk has said each Starmind spacecraft will carry more than 250 kW of solar power.
Getting there depends on launch volume. Maguire’s model assumes 250 Starship flights in 2028, up from two this year and 38 next year. The nearer test is financial: SpaceX guided to $33 billion to $37 billion in first quarter 2027 revenue, more than double the $14.58 billion it booked in Q3, and Musk reposted that guidance again on Sunday morning.
Elon Musk
SpaceX President to gift Trump Accounts her SpaceX stock
Gwynne Shotwell’s 2 million SpaceX shares are headed to children’s Trump Accounts starting this December.
SpaceX President Gwynne Shotwell said Friday that more than 2 million SpaceX shares belonging to her and her husband, Robert, will be distributed to children’s Trump Accounts in December, turning a pledge she made over the summer into an actual transfer. “Robert and I are thrilled that our gift of over 2 million shares of SpaceX stock will be distributed to children’s Trump accounts in December!” Shotwell wrote on X, adding that the shares are “transferring to escrow as we speak.”
The first round goes to children aged 11 to 17 who live in ZIP codes where the median family income is $57,000 or less, along with kids in ZIP codes with too few residents for the Census to report that figure. Shotwell said those families should receive a notice by Monday, Reuters reported.
A second gift is expected to be finalized in the next few weeks. That round will cover eligible children in military families serving overseas, children in foster care, and more kids in Texas counties near the Shotwells’ home where median family income is $90,000 or less. Elon Musk replied to the announcement with “Cool” and a heart emoji.
Shotwell first announced the donation on July 6, less than a month after SpaceX priced its record IPO at $135 per share on the Nasdaq. IPO filings showed Shotwell owned about 12.6 million SpaceX shares, Quartz reported at the time, which makes the gift roughly one sixth of her stake. At the roughly $146 per share used to value Musk’s own pledge earlier this month, 2 million shares are worth about $290 million.
How the stock would actually reach the accounts had been an open question since July. Treasury guidance acknowledged that stock donations could flow into Trump Accounts, but it did not explain the mechanics for a program whose contributions default into an S&P 500 index fund. Shotwell thanked the Treasury, the IRS, the Dell Foundation, Greater Horizons, Invest America and the law firms Morgan Lewis and Gibson Dunn for “working over the past few months to make this happen.”
The transfer also works as a dry run for a far larger gift. On October 19, Musk said he would give one of his SpaceX shares to every kid in America next year and called it “the first of many.” With roughly 72 million children in the country, that pledge is worth about $10.5 billion. President Donald Trump thanked Musk the same day and said the shares would go through Trump Accounts, though neither SpaceX nor the Treasury has published how or when that distribution will happen.
Shotwell’s recipients also fill a gap in the program itself. Trump Accounts launched on July 4, and the $1,000 Treasury deposit only goes to babies born between 2025 and 2028. Teenagers aged 11 to 17 receive no government seed money, so for many of the families getting a notice on Monday, SpaceX stock will be the first asset in the account. The accounts convert into retirement accounts when the child turns 18.
Tesla Full Self-Driving is now the centerpiece of the company’s newly revised Referral Program, which launched on October 29.
Instead of referring people to purchase vehicles and the referrer receiving $250 in Tesla Credit, the new program now incentivizes Full Self-Driving subscriptions.
If a Tesla owner is on an FSD trial and uses a referral code to subscribe to Full Self-Driving, the person whose Referral Link was used will receive one month of FSD (Supervised). Their code can be utilized 12 times per year, with January 1 marking the reset date.
Realistically, this means that if your Referral Code is used by 12 Tesla owners on an FSD trial, you will receive a full year of FSD for free.
🚨 Here is Tesla’s new Referral Program for Full Self-Driving (Supervised):
When someone subscribes to FSD using your link, you’ll get a month free. Up to a year of FSD is available to you for free!
If you’d like to use my link: https://t.co/g00IX9OCE3 https://t.co/GFBzEO2jjS
— TESLARATI (@Teslarati) October 30, 2026
The previous program made it pretty difficult to get referrals; buying a vehicle is obviously a much larger financial strain than subscribing to Full Self-Driving for a month.
Of course, the previous Referral Program also offered a tangible benefit: $250 in credits you could use on Service, Supercharging, or anything in the Tesla Shop. It truly could pay for someone’s travel for a year. It recently bought me a new backpack and a T-shirt.
However, this new program is much more attainable for those who do not have a massive online presence of a slew of friends in the Tesla community who will use the code and max out subscriptions for vehicle purchases.
Woke up to maxed out Referrals! Thank you guys, that’s awesome!
Share your referral link below so others can use it! https://t.co/kesbwTcoTV
— TESLARATI (@Teslarati) October 30, 2026
The Full Self-Driving suite will now be the keystone of the Referral Program, which makes it more inclusive and more fun for everyone with an awesome benefit.
It also gives the impression that Tesla is truly focused on FSD subscriptions, something that saw a tremendous increase in volume in Q3, as 75 percent of deliveries for the quarter came with an FSD subscription attached.
Full Self-Driving data is so instrumental to the suite’s improvement that this kind of program benefits Tesla as much as it does the consumer.
Elon Musk calls Earth’s data centers “peanuts” next to what SpaceX is planning in orbit
SpaceX President to gift Trump Accounts her SpaceX stock
